MSZ
ActiveSummary
MSZ has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €13,422 and a net result of €11,422. Its solvency ranks better than 29% of 34,728 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
- Equity
- €13,422
- Profit
- €11,422
Why 67raises riskFounded in 2024Size: total assets €48,153Sector: Specialised construction activities (NACE 43)lowers riskLiquidity: current ratio 1.91, cash €17,512Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro): better than 29% on solvency, 71% on liquidity and 84% on profitability.
The bankruptcy probability was computed on 27-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Searched, nothing found (1)
- Annual accounts filedfinancial year 2025 · micro…
- IncorporationAppointment: SWIJNGEDOUW Davy Robert Ronny…
Financials · financial year 2025, micro format
Turnover and EBIT margin not published: the micro format does not require them.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 94.3% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 7,976 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,151 |
| Other operating charges640/8 | €814 |
| Gross operating margin9900 | €18,431 |
| Operating profit (loss)9901 | €16,466 |
| Financial income75/76B | €153 |
| Recurring financial income75 | €153 |
| Financial charges65/66B | €442 |
| Recurring financial charges65 | €442 |
| Profit (loss) for the period before taxes9903 | €16,177 |
| Income taxes67/77 | €4,756 |
| Profit (loss) for the period9904 | €11,422 |
| Profit (loss) for the period to be appropriated9905 | €11,422 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €48,153 | |
| Fixed assets21/28 | €5,236 | |
| Tangible fixed assets22/27 | €5,236 | |
| Furniture and vehicles24 | €5,236 | |
| Current assets29/58 | €42,917 | |
| Amounts receivable within one year40/41 | €25,405 | |
| Trade receivables40 | €13,280 | |
| Other amounts receivable41 | €12,125 | |
| Cash at bank and in hand54/58 | €17,512 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €48,153 | |
| Equity10/15 | €13,422 | |
| Contributions10/11 | €2,000 | |
| Reserves13 | €11,422 | |
| Distributable reserves133 | €11,422 | |
| Amounts payable17/49 | €34,731 | |
| Amounts payable after more than one year17 | €12,204 | |
| Financial debts170/4 | €2,204 | |
| Other amounts payable178/9 | €10,000 | |
| Amounts payable within one year42/48 | €22,527 | |
| Current portion of amounts payable after more than one year42 | €2,438 | |
| Trade debts44 | €15,313 | |
| Suppliers440/4 | €15,313 | |
| Taxes, remuneration and social security45 | €4,776 | |
| Taxes450/3 | €4,776 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €11,422 |
| + Depreciation and write-downs630 | €1,151 |
| Operating cash flow (approximation) | €12,573 |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 28-01-2026 | 2026-00019318 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| SWIJNGEDOUW Davy Robert Ronny |
|
Owners and capital
Capital and shareholders
- SWIJNGEDOUW Davy Robert Ronny 95 shares (95%) · €1,900 in cash
- VANDENBERGHE Ann Sofie Alice 5 shares (5%) · €100 in cash
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 27-06-2024 Incorporation · €2,000 · 100 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
27-06
Gazette deed
IncorporationAppointment: SWIJNGEDOUW Davy Robert Ronny (director) · Founder · Founding capital6 facts ▸
- Incorporation, 24-06-2024
- Founder, SWIJNGEDOUW Davy Robert Ronny
- Founder, VANDENBERGHE Ann Sofie Alice
- Founding capital, €2,000
- Director appointment, SWIJNGEDOUW Davy Robert Ronny (director (not named in the articles))
- Power of attorney, Madou Vandromme Accountancy
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 1010.720.501
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 38001D0250/00K003 | Flanders | 964 m² | 1 · 127 m² | 7.9 m · 2 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MSZ
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Maerestraat 4,8660 De Panne (Adinkerke)” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Natuurlijke personen of rechtspersonen,al dan niet aandeelhouder, 1” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Monday of December at 14:00